WASHINGTON — The U.S. international trade deficit rose to $48.2 billion in March, from a revised $45.4 billion in February.
Imports and exports both rose, but the continuing boom of oil prices and a major increase in the quantity of imported oil inflated the imports figure.
March imports were $220.8 billion, up from a revised $210.4 billion in February. Imports of goods were the highest since August 2008.
A combination of a "stronger-than-expected economy, higher Treasury rates, robust supply, and rich valuations resulting in choppy markets" have made the trading environment in H124 "quite difficult," according to Barclays.
Two rating agencies upgraded Los Angeles Unified School District's bond ahead of multi-billion dollar refunding.
The Basel III Endgame proposal to restructure capital holding levels comes under fire.
Friday price talk for the unrated tax-exempt paper was between 11% and 15%.
The board approved that step at its second quarter board meeting held this week.
The Inflation Reduction Act, affordable housing and clean energy were among the topics discussed at Baker Tilly's DevelUP conference in Chicago this week.
